Acquisition of major Midlands regeneration site

19 June 2018

LEI 213800R8JSSGK2KPFG21

Harworth Group plc

Harworth Group acquires major regeneration site as it grows its presence in the Midlands

Harworth Group plc ("Harworth" or the "Company"), the leading land regeneration and property investment specialist, announces that it has purchased the 350-acre former Ironbridge coal-fired power station in Shropshire for an undisclosed sum, further growing the Company's strategic land bank and expanding its presence in the Midlands. 

Located adjacent to Ironbridge town centre, the site comprises around 240 acres of brownfield land and a neighbouring parcel of over 100 acres of agricultural land. Harworth will use its market leading land regeneration skills to remediate the site ready for future development and to promote the site through the planning process, targeting the delivery of a new mixed-use development of several hundred new homes alongside commercial development, leisure uses and significant public open space.

Owen Michaelson, Chief Executive Officer of Harworth Group, commented:

"The redevelopment of Ironbridge Power Station requires an experienced regeneration company to sensitively handle the project. We have proved with our major developments of former coal mines and other industrial sites across the North of England and the Midlands that we have the core skills required to effectively redevelop complex sites. We look forward to doing the same at Ironbridge.

"The Midlands market remains a key priority for the business as we continue to expand our presence in the region. With the continued undersupply of new homes and commercial space, there is good demand from housebuilders and commercial occupiers alike. This acquisition forms part of our ongoing strategy to become the UK's leading regeneration company."

-ENDS-

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NOTES TO EDITORS

About Harworth Group

Listed on the main market, Harworth Group plc (LSE: HWG) is a leading regenerator of land and property for development and investment which owns, develops and manages a portfolio of approximately 21,000 acres of land on around 140 sites located throughout the Midlands and North of England. The Company specialises in the regeneration of former coalfield sites and other former industrial land into new residential developments and employment areas.

http://www.harworthgroup.com/